The economist Muhammad Yunus was awarded a Nobel Peace Prize in 2006 in recognition for his pioneering work in microlending – making small loans available to people living in poverty. Yunus believed that entrepreneurs in rural, impoverished areas needed the same things as any other business—capital to get their small More
Checking up on a job applicant’s financial history has become a common practice in hiring — even for service industry jobs like serving frozen yogurt or driving a delivery truck. Employers might assume that a job candidate’s financial history provides a real-world measure of their trustworthiness and reliability. However, new More
Slate: People often assume that the poor are less competent than the wealthy. Some even suggest that the poor have flawed values or ways of thinking. But my colleagues and I have recently found that the poor outperform the rich at some financial decisions. Under poverty, people develop a unique More
Read about the latest research published in Psychological Science: Money Earlier or Later? Simple Heuristics Explain Intertemporal Choices Better Than Delay Discounting Does Keith M. Marzilli Ericson, John Myles White, David Laibson, and Jonathan D. Cohen People frequently make decisions that have both short- and long-term consequences. These decisions — called More
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